It is with regret that we advise that the Touch Football Australia (TFA) Annual General Meeting scheduled for the 10 November 2007, has been postponed until further notice.Due to the requirements of the Australian Capital Territory Incorporations Act, TFA will be unable to continue with the meeting. There has been a dramatic change in the scope of the organisation and it is imperative that under the direction of the new Chief Executive Officer and Board of Management that all matters are checked with due diligence. Whilst it is unfortunate that this issue has delayed the process, it is also important that the reports are accurate. TFA ask for your support and understanding as members of the Touch Football community.
About the authorFreddie TaylorShare the loveHave your say Man Utd boss Solskjaer: It’s on Alexis & Lukaku to win starting spotby Freddie Taylor10 months agoSend to a friendShare the loveManchester United manager Ole Gunnar Solskjaer says Romelu Lukaku and Alexis Sanchez must take it upon themselves to break into his starting line-up.Both players have struggled this season, with just ten goals between them in all competitions.Another United star, Paul Pogba, has returned to form under Solskjaer in his first two matches in charge. But the Norwegian says the improvement of his players is down to their own desire.”I cannot do anything for their performances on the pitch. Paul has done it himself. The players have done the performances,” Solskjaer said ahead of United’s match against Bournemouth.”I’m here to help them, guide them on the path, and then it’s up to them to do it on the pitch.”I don’t agree I’ve done that with Paul, and I can do that with Romelu and Alexis. It’s up to them when they get a chance. That’s the name of the game when you’re a footballer. You’ve got to do it yourself.”Yes you want help from your manager and your team-mates. I give them some guidelines. There’s been loads of talk about freedom of expression, but that’s how I’ve always been as a manager.”You can’t tell all the players what to do. They are here for a reason – they are good players. It’s up to them to use their imagination, creativity and enjoy playing for this club, because that is the best time of your life. It’s not a bad time being a manager either, for a little while.”
Hearts manager Levein delighted with Man City winger Ryotaro Meshinoby Paul Vegas16 days agoSend to a friendShare the loveManchester City winger Ryotaro Meshino is impressing on-loan at Hearts.Jambos boss Craig Levein says Meshino has been influential in the dressing room despite the many learning curves he is undertaking.“He isn’t fluent in English but he is taking lessons three times a week and that has improved,” Levein told The Scotsman.“The boys are teaching him a few words in the dressing room that maybe they shouldn’t be teaching him but he is a bubbly wee character. I think that will help him.“This is a fair change in culture, it’s a fair distance away from his home, it’s a different language. “Most foreign players who come to the UK, particularly from Japan, are very unlikely to be speaking fluent English. He’s got that to contend with, plus the football and the weather. He has been more to forefront in the dressing room that I would have thought.” TagsLoan MarketAbout the authorPaul VegasShare the loveHave your say
EDMONTON – Caucus members from Alberta’s two conservative parties got together for the first time Monday, but one Progressive Conservative bowed out before the joint meeting even took place.Richard Starke, legislature member for Vermilion-Lloydminster, said he has not been happy with policy direction under PC Leader Jason Kenney and has no faith that will change under the new United Conservative Party.Members of the Opposition Wildrose party and the Progressive Conservatives voted in a landslide on the weekend to join forces ahead of the next election set for 2019. The new party must still be registered with Elections Alberta.“The tone and the direction and the statements of the (PC) party are not consistent with what I believe to progressive conservatism,” Starke said in an interview.“It’s demonstrating a hardness in its attitude towards a number of issues, and a level of partisanship that I don’t think is constructive, and I don’t think is helpful for the people of Alberta.”He cited Kenney’s comments earlier this year on gay-straight alliances in schools. Gay straight alliances are student-organized support networks to help LGBTQ students feel welcome.Kenney had said that schools should inform parents if their children join an alliance as long as it doesn’t put the child at risk. Critics said that would effectively out a child and could put them at harm of family estrangement or worse.“As far as I’m concerned (the GSA legislation) is there to protect vulnerable students and to be ambiguous as to whether schools would be informing parents is a fundamental problem,” said Starke.He said he was also concerned that Kenney did not attend Pride events last month. Starke went in his place.Starke, a two-term member of the legislature, ran and lost against Kenney for the PC party leadership on a platform of social progressivism.He said he has concerns with Kenney’s management style and focused on a promise Kenney made after his leadership win in March.Kenney promised the PC executive to strike a committee that would advise the bargaining team that ultimately brokered a merger with the Opposition Wildrose led by Brian Jean, Starke said.“I wanted to be on that committee and I was told I would be on that committee. That committee never met and was never constituted.”That underscored a lack of interest in competing viewpoints, suggested Starke, who added he will stay on to sit in the legislature as the lone PC member.Elections Alberta said he will be allowed to do so unless the PC party officially deregisters. The PC brand is to be legally subsumed by the new party and member Mike Ellis said Starke’s status isn’t clear.Kenney’s team declined comment.On Monday afternoon, 22 members of the Wildrose and the seven remaining Tories held a joint meeting near the legislature and selected Wildrose house leader Nathan Cooper as interim leader until a permanent one is selected Oct. 28.Other positions and critic portfolios are to be set in the days to come, Cooper said.Asked about Starke’s decision, Cooper noted that policies are not set, but will be hashed out and voted on by the membership.“I hope he will think about that in the days to come.”Jean, Kenney and conservative strategist Doug Schweitzer have already indicated they will run in the leadership race.Jean made it official at an announcement Monday in Airdrie, Alta., and said he would hold a news conference on Tuesday to announce details of his plan “to create a new Alberta Advantage.”
Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp Facebook Twitter Google+LinkedInPinterestWhatsAppFor release on January 13, 2015: Nassau, Bahamas – Committed to giving back to communities in which its brand operates, KFC Nassau brought cheer to the start of the Bahamas National Feeding Network’s (BNFN) new year with a sizable donation in support of its commitment to combat the epidemic of hunger in The Bahamas by supporting those in need of essential food resources.On January 13th the franchise made the generous donation of over $13,000 to the Bahamas National Feeding Network, which reflects the brand’s support in making a difference in the lives of many children and families facing hunger daily in the community and by increasing the access to nutritious food supply to those in need.“It was fitting to start the new year off with such a charge as the number of people at immediate risk of hunger continue to rise in The Bahamas and that’s why rendering support to charitable organizations like the Bahamas National Feeding Network are so important to us,” said Kerry Wong, Director of Operations for Restaurants (Bahamas) Ltd – KFC Nassau’s franchise holder. “The organization’s tireless efforts to get nutritious meals into the hands of those in need makes a tremendous impact to many Bahamians, and we are happy to support their mission and charitable efforts with this donation.”“We are very grateful for the generosity of KFC Nassau,” said Felix Stubbs, Chairman, Bahamas National Feeding Network. “It is only because of donations from corporate partners, individuals and the general public at large that the efforts of the BNFN can ease the burden of those who feed the less fortunate and are often all that stands between them and hunger. KFC’s generous contribution will assist in the yearlong plight of providing food items to those in great need.”With the critical and increased demand for hunger relief and the rise of food prices in The Bahamas, organizations like the Bahamas National Feeding Network work year-round to fulfill its commitment to help eliminate hunger, and companies like KFC Nassau fill an acute need for organizations to achieve their on-going commitment to providing hunger relief as the lack of food resources is faced all year. KFC Nassau is keen on giving back to the community and plays a pivotal role in further enhancing the communities in which they operate.“At KFC Nassau, we are committed to giving back to the communities where we live and work, we are grateful to support the good work of organizations that support Bahamians in need and look forward to further supporting other local charities within the Bahamas that focus on providing hunger relief.” Wong concluded.KFC Nassau has been a staple in the New Providence community since 1967, and currently has eight KFC restaurants throughout New Providence. Visit the company’s website, www.kfcnassau.com, or on Facebook, www.facebook.com/kfcnassau. Radical rogues ruining Bahamas tourism reputation Another Murder in Nassau GB Port Authority given new milestones, with extension of concessions Related Items:bahamas national feeding network, kentucky fried chicken, nassau
Related Items: Facebook Twitter Google+LinkedInPinterestWhatsApp#Bahamas, November 28, 2017 – Nassau – Some 40 key policymakers from member states of the Caribbean Telecommunications Union (CTU) and 100 professionals and executives will assemble at the Atlantis Resort on Paradise Island to participate in workshops, conferences and seminars all week until this Friday, December 1.Yesterday, November 28, marked the beginning of Information and Communications Technology (ICT) Week, facilitated by the Bahamas Government and the Utilities Regulation and Competition Authority (URCA). The opening press conference was held yesterday afternoon at Atlantis, Paradise Island and featured Chief Executive Officer of URCA, Stephen Bereaux; Secretary General of the Caribbean Telecommunications Union, Bernadette Lewis; and Chairman of the CTU, Philip Dalsou.Stephen Bereaux briefed the press on the main objective of the conference, which is to address Internet imperatives. He spoke of the rise and dominance of the Internet and stressed the importance of the pending united platform that the CTU has plans to bring into action. Mr. Bereaux believes that the benefits of a single Caribbean cyber platform will “improve social and economic development and understanding of internet intelligence in the Caribbean, while focusing on cyber security and development”. He also commented that “As small island states, we must make sure that small economies do not fail due to lack of economies of scale and scope.”Secretary General of the CTU, Bernadette Lewis remarked, “Legislation needs to be reformed. It is centuries old, inefficient and time consuming.” She envisions more cost effective and transparent operations for the Caribbean. She said, “a single Caribbean ICT space needs to be embraced to improve and transform governments.”Chairman of the CTU, Philip Dalsou said, “ICT is the most dynamic sector and we must embrace it because it has transformed economies and behaviors at more rapid speeds than before.” He talked about how ICT also impacts things such as education, the health sector, and disaster management. With disaster frequency and magnitude increasing, Mr. Dalsou urged that we embrace the changes that modern technology has created and use them to unite the Caribbean and improve disaster response with rapid communication.ICT Week is expected to significantly increase the awareness of Internet imperatives to bring forth further action and endless possibilities for the Caribbean Community and other Caribbean countries outside of CARICOM.By: Sydnei L. Isaacs (BIS)Photo caption:The opening press conference for Information and Communication Technology (ICT) Week at Atlantis, Paradise Island, November 27, 2017: Pictured from left — Chief Executive Officer of URCA, Stephen Bereaux; Secretary General of the Caribbean Telecommunications Union (CTU), Bernadette Lewis; and Chairman of the CTU, Philip Dalsou.(BIS Photo/Patrick Hanna) Facebook Twitter Google+LinkedInPinterestWhatsApp
Navy man convicted in fatal bridge crash faces nearly a decade in prison Posted: April 23, 2019 April 23, 2019 Updated: 5:40 PM 00:00 00:00 spaceplay / pause qunload | stop ffullscreenshift + ←→slower / faster ↑↓volume mmute ←→seek . seek to previous 12… 6 seek to 10%, 20% … 60% XColor SettingsAaAaAaAaTextBackgroundOpacity SettingsTextOpaqueSemi-TransparentBackgroundSemi-TransparentOpaqueTransparentFont SettingsSize||TypeSerif MonospaceSerifSans Serif MonospaceSans SerifCasualCursiveSmallCapsResetSave SettingsSAN DIEGO (KUSI) – A full-day sentencing hearing encompassing victim statements and legal arguments from both sides was laid out out Tuesday for a Navy petty officer who was behind the wheel of a pickup truck that plummeted over the side of a transition ramp to the San Diego-Coronado Bridge and landed in Chicano Park, killing four people.Richard Anthony Sepolio, 27, faces a maximum of nine years and eight months in state prison when he is sentenced a week from Thursday for the Oct. 15, 2016, crash that killed Annamarie Contreras, 50, and Cruz Contreras, 52, a married couple from Chandler, Arizona; and Hacienda Heights residents Andre Banks, 49, and Francine Jiminez, 46. Seven other people were seriously injured.Sepolio had faced up to 18 years on his convictions for vehicular manslaughter while intoxicated and DUI causing injury, but the application of certain sentence enhancements were modified in court at Tuesday’s hearing, reducing his potential maximum prison term.Among the legal arguments considered Tuesday included whether Sepolio could legally be sentenced for both vehicular manslaughter and its “lesser included offense” of DUI causing injury, and how various allegations regarding injuries to the seven wounded victims could be applied to Sepolio’s sentence.The same jury that convicted Sepolio of vehicular manslaughter and DUI in February acquitted him of four counts of gross vehicular manslaughter while intoxicated, seven counts of reckless driving and one count of driving over the legal alcohol limit and causing injury.The May 2 hearing will begin with victim impact statements lasting from 9 a.m. into mid-afternoon, then San Diego Superior Court Judge Charles G. Rogers will hear attorney arguments and hand down Sepolio’s sentence.Sepolio is expected to make a statement to the court and will be allowed to wear his Navy uniform at the hearing, per a request from defense attorney Paul Pfingst.Outside court, Deputy District Attorney Cally Bright said the nearly 10-year maximum sentence “hardly seems like the right amount of time when four people were killed and seven others injured, but that’s the nature of the DUI laws.”RELATED STORY: Jurors reach a verdict in the trial of Richard SepolioBright said the state’s DUI laws and sentencing guidelines were inconsistent and problematic, with some cases providing harsher punishments for DUI offenders who injure victims than those who cause fatalities. Bright said due to some crimes being classified as “serious” felonies and others “violent” felonies, a person convicted of DUI causing injury receives 15 percent custody credit while incarcerated, while someone convicted of vehicular manslaughter while intoxicated gets 50 percent credit.“A person in California will actually spend more time in prison for driving under the influence causing great bodily injury than an ordinary negligence manslaughter case where someone is intoxicated and (a victim) dies,” the prosecutor said.Monday, January 29, 2019 L to R: Richard Sepolio, Paul Pfingst, Judge Charles Rogers, Officer Alvarez.Bright told jurors that Sepolio chose “to drive irritated, impaired and impatient.” The prosecutor said that in addition to having drinks prior to getting behind the wheel, Sepolio was arguing with his girlfriend over the phone just moments before losing control of his truck on the bridge.Sepolio testified he was driving on the transition ramp — a route back to Coronado that he had driven more than 90 times before — when he sped up to merge in front of another car and lost control.The defendant said he remembered being on top of a freeway barrier looking down, then waking up in the park and being pulled out of his truck. Sepolio said his memory was mostly “cloudy” about what happened after his truck plunged into the crowd below.On the stand, he denied arguing with his then-girlfriend on the phone just before the crash, but admitted on cross-examination that he’d just left a lunch with a female Navy colleague where “the idea was to go out and have a good time.” Sepolio testified he had a glass of alcoholic cider and a glass of wine at lunch before heading back to Coronado.Whether Sepolio was intoxicated was a point of contention during the trial, particularly with one blood sample not tested for more than a year after the crash, according to Pfingst.While the jury did not find Sepolio guilty of the greatest charge he faced — gross vehicular manslaughter while intoxicated — jurors did not disagree that Sepolio was under the influence.Bright said she believed Sepolio was grossly negligent due to driving while under the influence and distracted, but supported the jury’s findings, which included its rejection of the charge that Sepolio was intoxicated above the legal blood-alcohol limit. 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President Donald Trump put his reputation as a dealmaker on the line Friday in a high-risk vote on an embattled Republican health care plan, with rebels in his own party threatening to torpedo the reform.Trump turned up the heat on die-hard conservatives with the White House casting the vote in the House of Representatives as a do-or-die chance to repeal and replace Barack Obama’s signature heath care law.Passage would hand Trump a monumental victory after a bruising battle with recalcitrant Republicans, mainly conservatives who say the new plan is too similar to Obamacare and would cost the government too much.Defeat could send the seven-year Republican effort to pull Obama’s Affordable Care Act out by its roots and replace it with something better careening into a tailspin—and deal the president a major setback.“After seven horrible years of Obamacare (skyrocketing premiums & deductibles, bad healthcare), this is finally your chance for a great plan!” Trump tweeted in an 11th-hour message to Republicans in Congress.The House took a first procedural step Friday, voting 230 to 194 to advance the bill—which has undergone changes to appease conservatives and moderates alike.A final floor vote is set for between 3:45 and 4:45 pm (1945 and 2045 GMT).House Speaker Paul Ryan, the reform’s chief champion in the House, had planned a Thursday vote but in a stunning development was forced to pull the bill off the floor when it became clear he would not get it across the finish line.After several days of intense meetings at the White House with Republican conservatives and moderates aimed at tweaking the bill to find enough common ground for it to pass, Trump ran out of patience.A man holds up a sign during a rally organized by the Congressional Progressive Caucus against the healthcare bill in front of the US Capitol in Washington, DC, on Thursday. AFP photo‘Everything he can do’ -On Thursday evening the president issued an ultimatum to his party: he wants a House vote Friday, and if he loses, Obamacare—which he has called disastrous and Republicans have derided since it was enacted exactly seven years ago—will remain in force and he will move on to other things on his agenda.Still, the White House expressed confidence they could rally undecided or skeptical Republicans to their side.“I think it is” going to pass, Health and Human Services Secretary Tom Price, himself until recently a House Republican, told CNN.“The president has done everything he can do, any individual could do, to make sure people appreciate the consequence of this vote.”But Trump’s effort took a further blow Friday when the powerful chairman of the House Appropriations Committee, Rodney Frelinghuysen, came out against the bill.“Unfortunately, the legislation before the House today is currently unacceptable as it would place significant new costs and barriers to care on my constituents in New Jersey,” he said in a statement.The House Freedom Caucus—some 30 lawmakers who are heirs-apparent to the ultra-conservative Tea Party movement—have spearheaded opposition to a bill they dub “Obamacare Lite,” complaining it will only reduce, not eliminate, health coverage subsidies by replacing them with refundable tax credits.Conservatives, eager to rein in rising premiums, want to repeal “essential health benefits” that all insurance policies must pay for under Obamacare—including maternity care and emergency room visits.Republican leaders conceded to that demand and repealed those benefit requirements.“Today is about a rescue mission” for American families struggling under the current law, Republican Bradley Byrne, one of those defending the bill, said on the House floor.“Obamacare is on a collision course with disaster.”But as debate began Friday, Democrats seized their chance to loudly rail against the bill.House Democrat Robin Kelly warned that Republican lawmakers will “own its aftermath,” as she cited a recent congressional analysis that projected 24 million more Americans will be left without health insurance over the next decade if the plan becomes law.The Democratic minority will likely vote against the bill as a bloc, so Republican leaders need to limit defections to fewer than 22 of their party’s 237 representatives among the House’s 430 current members.Should the bill squeak by, it faces an equally tough road in the US Senate, where Republicans hold a slim 52-48 majority.
BNP chairperson Khaleda ZiaBNP secretary general Mirza Fakhrul Islam Alamgir on Tuesday said home minister Asaduzzaman Khan assured them of taking all necessary steps for ensuring proper treatment to their ailing chairperson Khaleda Zia, reports UNB.He came up with the remark after a meeting between a high-profile BNP delegation and the minister at the secretariat.”We’ve come to the minister to talk about our leader Khaleda Zia’s illness and her proper treatment. The minister listened to us very attentively,” the BNP leader said.Fakhrul further said, “He (Home Minister) told us that he’ll take whatever steps are needed for ensuring proper treatment to our leader.”He expressed the hope that Asaduzzaman will live up to his commitment by taking the highest measure for the best treatment of Khaleda Zia.Earlier, Fakhrul together with BNP standing committee members Khandakar Mosharraf Hossain, Mirza Abbas, Nazrul Islam Khan, Abdul Moyeen Khan and Amir Khosru Mahmud Chowdhury held a meeting with the minister at his office from 2:30 to 3:05pm.Amid their deep worry about the health condition of Khaleda Zia in jail, the BNP leader met the home minister with their demand for better treatment to her.Khaleda has been in jail since a special court convicted her in the Zia Orphanage Trust graft case on 8 February last year. BNP, however, termed the case politically motivated.
Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. 2 min read July 11, 2019 Register Now » Everyone’s had it happen: you need a quote or a statistic for a presentation or pitch deck, but it’s locked behind a password-protected site. You can’t remember your password, so you go through a time-consuming process of password reset emails. If you’re lucky, you’ll finally get to log in — if you’re not, the site or your computer will get glitchy and you’ll keep having to reset.A program like RememBear Password Manager can protect your passwords and store them at the tip of your fingers — and multi-year subscriptions are on sale right now.RememBear is a fun, friendly app that saves and auto-fills your passwords on sites around the web. It uses ultra-strong encryption to keep your passwords under lock and key, so only you can see and use them. You’ll log into websites with a single click, kissing the dreaded “Incorrect Password” feedback goodbye forever.The app also keeps your credit card information handy, so you’ll never have to leave the couch to shop for company supplies online. It also stores sensitive notes from meetings on the go, and it syncs your passwords across all of your computers, tablets, smartphones and other devices.Two different RememBear options are on sale right now. A two-year subscription is available for $39.99 (33 percent off the retail price of $60) and a three-year subscription only costs $41.99 (33 percent off the sticker price of $63). Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals
Hello and welcome to StokeonTrentLive’s breaking news service bringing you all the latest updates from Stoke-on-Trent and North Staffordshire on Monday, March, 11. Our team of reporters will be updating this live service with all the latest on the traffic and travel and weather updates – as well as news and entertainment through the day. We’ll be bringing you the very latest updates in our live news feed below. For the latest news and breaking news visit www.stokeontrentlive.co.uk Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @SOTLive – the official Sentinel account – real news in real time. We’re also on Facebook – your must-see news, features, videos and pictures throughout Stoke-on-Trent, North Staffordshire & South Cheshire. Want to tell us about something going on where you live? Let us know – Tweet us @SOTLive or message us on our Facebook page . And if you have pictures to share, tag us on Instagram at StokeonTrentLive . Key EventsCan you help find missing man Alan?16:5619:02Staffordshire Police issue statement on A50 incidentWe are currently dealing with an incident on the A50 near to the Meir Tunnel in Stoke on Trent. Please avoid the area where possible.”18:37 Usual congestion on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). 18:22A527 Biddulph Road coming from Brinley Ford Southbound busy but moving at A5272 High Lane roundabout. 18:06As the band of rain sweeps southeastwards through tonight and tomorrow, it could turn heavy at times ��️with strong gusty winds ��️ due to line convection pic.twitter.com/tNrAL3rBBI— Met Office (@metoffice) March 11, 201917:51Advance Warning – Stoke City v Reading – Championship football match at Bet365 Stadium.Kick off at 3pm. Expect extra traffic on the A50 and A500. On March 16. 17:29A5272 Dividy Road in both directions blocked, slow traffic due to accident, two vehicles involved at Christine Street. 17:29Incident update – vehs have left scene. All lanes running freely https://t.co/cFQyP8tyIQ— Highways England (@HighwaysNWEST) March 11, 201916:56KEY EVENTCan you help find missing man Alan?Alan Holmes (Image: Staffordshire Police)More here.16:55Usual slow traffic on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). Travel time is five minutes. 16:55Heavy traffic on A527 Porthill Road at A500 D Road / Longbridge Hayes Road / Longbridge Hayes Road (Porthill Bank). Travel time is four minutes. 16:55Heavy traffic on A500 D Road at A53 Etruria Road / Etruria Way (Basford Roundabout). 16:55One lane closed due to accident, two vehicles involved on M6 Southbound at J18 A54 Middlewich Road (Middlewich / Holmes Chapel). In the roadworks area.Lane one (of three) is closed.15:44A5272 Chell Street busy but moving at A5272 Merrick Street / B5047 Hulton Street (Providence Square). Travel time is four minutes. 15:14Usual congestion on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). 14:46One lane closed due to accident on A50 Eastbound between A518 Derby Road (Water Bridge roundabout) and Marston Lane (Doveridge).One lane is closed along this stretch towards Sudbury. 13:37Bucknall trafficA52 Werrington Road Westbound busy but moving before A52 Leek Road (Lime Kiln Traffic Lights).13:24A34 Newcastle RoadA34 Newcastle Road busy but moving between Springfield Retail Park and A500 D Road (Hanford Interchange). 13:20Chell Street busyA5272 Chell Street busy but moving at A5272 Merrick Street / B5047 Hulton Street (Providence Square).12:52Updates: ‘multi-vehicle collision’ on M6 in StaffordshireThe M6 in Staffordshire (Image: RoadCams)Motorists are being told to ‘exercise extreme caution’ following a ‘mutli-vehicle collision’ on the M6 in Staffordshire. Read more. 12:26M6 in CheshireOne lane closed due to lorry having a tyre changed on M6 Southbound from J19 A556 (Knutsford) to J18 A54 Middlewich Road (Middlewich / Holmes Chapel). Traffic is coping well. Lane one (of four) is closed.11:58A500 delaysOne lane blocked due to broken down vehicle on A500 D Road Southbound from A53 Etruria Road (Basford Roundabout, Etruria) to Stoke Road (Stoke Road Interchange, Stoke-On-Trent). Traffic is coping well. Lane one (of two) is blocked.11:54Highways officers called to pedestrian WALKING on the M6Highways Officers were called to a busy stretch of the M6 in Cheshire to reports someone was on the carriageway. The officers discovered a pedestrian attempting to walk up the northbound stretch between junction 16, near Crewe and Stoke-on-Trent, and junction 17, Sandbach . The identity of the person has not been revealed.Read more.11:44Pedestrian on M611:06Smallthorne trafficA5272 Hanley Road / High Lane busy but moving around Moorland Road (Small Thorne Roundabouts).11:00Chell Street delaysA5272 Chell Street busy but moving at A5272 Merrick Street / B5047 Hulton Street (Providence Square). Travel time is four minutes.10:46Bucknall RoadHeavy traffic on Bucknall Road inbound from A52 Leek Road (Lime Kiln Traffic Lights) to Hanley Town centre. 10:11Man, 64, found dead at Stoke-on-Trent gymPowerhouse Gym in Sandyford (Image: Google)A 64-year-old man has been dead at a popular Stoke-on-Trent gym. Police officers and paramedics were called to Powerhouse Gym on the Newfield Industrial Estate, in Sandyford , at around 5.45pm on Saturday. officers confirmed a man was found dead, but do not believed there were suspicious circumstances.Read more.09:16A500 busy500 D Road Southbound busy but moving before M6 J15.09:00M6 Staffordshire delays due to traffic coneOne lane blocked due to a traffic cone on road on M6 Northbound from J14 A34 (Stafford North) to J15 A500 D Road (Stoke-On-Trent). Approach with care. 08:53M6 lane closureOne lane closed due to broken down vehicle on M6 Southbound from J15 A500 D Road (Stoke-On-Trent) to J14 A34 (Stafford North). Traffic is coping well.Lane one (of three) is closed.
Novi residents may soon have increased opportunities for enjoying the great outdoors, thanks to funding approved in the state House.Rep. Kathy Crawford, R-Novi, this week voted for House Bill 4078, which authorizes funding from the state Natural Resources Trust Fund (NRTF) to create a new park in Novi.The grant will provide $385,000 for the acquisition of 10 acres of land located at 12 Mile Road east of Napier Road. The area will be designated as the City of Novi Northwest Neighborhood Park.“Novi is an excellent community to live and grow up in and the city is always working hard to continue to make improvements,” Crawford said. “This piece of funding from the state will allow them to proceed with this project so I was happy to be a ‘yes’ vote.”While still in the planning stages, the neighborhood park development would have potential features such as open space, play structures and a picnic shelter.HB 4078 now goes to the Senate for consideration.Crawford can be reached at 517-373-0827 or KathyCrafword@house.mi.gov. 06Feb Crawford announces funding for new outdoor recreation area in Novi Categories: Crawford News
Technicolor content delivery network spin-off Broadpeak has completed the acquisition of its core software technology from Technicolor in exchange for a minority stake in the company.The company said the move would enable it to further broaden its open ecosystem of partners.“Today marks the final step in Broadpeak’s spin-off process from Technicolor,” said Jacques Le Mancq, president and CEO, Broadpeak. “Acquiring core technology from Technicolor will provide Broadpeak with the proper assets to develop our leadership in content delivery network solutions and accelerate our innovation programmes.”
Channel operator SPI International is due to launch a new independent film network called FilmBox Arthouse in Europe and the US this summer. The channel will be available for DTH platforms, cable, IPTV, mobile, and connected TVs with related video-on-demand rights, said SPI. The firm is also working on a multi-screen app to make the channel available on web-connected devices.The launch will mark SPI’s sixth international channel launch after FightBox HD, FashionBox HD, DocuBox HD, Erox HD and Eroxxx HD. The FilmBox Arthouse network will feature auteur and independent films from around the world.SPI International has been supplying theatrical films and TV programmes to the international market for more than 20 years and currently operates 34 TV channels across four continents.
James PurnellThe BBC’s director of strategy has said the corporation does not have plans to close BBC Four, despite the arts network being touted as one of a number of services that could be cut to save money.Speaking on BBC Radio4’s World at One show yesterday, James Purnell said “we’re not ruling anything in or out, but we don’t have a plan to close BBC Four,” describing the digital TV network as a “great service, doing great things.”However, the comments came after BBC director general Tony Hall outlined the corporation’s vision of an “open BBC for the internet age”, in which new services such as a digital children’s offering called iPlay, a cultural service called Ideas Service and streamed news output could were identified as possible replacements for existing linear TV services like the BBC News channel and kids networks CBBC and CBeebies.The 99-page document that the BBC issued yesterday, detailing its plans for BBC’s programmes and services in the next Charter period, said: “Streaming news may replace rolling news. Children may prefer iPlay to scheduled television. The Ideas Service might mean we no longer need BBC Four.“In an ideal world, we would move with the audience. Although much of the audience is consuming in new ways, a large part continue to enjoy radio and television as they always have done – live and through channels. For the next Charter, we need to serve both audiences.”Purnell said yesterday: “[As] we said in the document, we want to move at the pace of our audience, we want to do these new services. If in time they start to do the job better than existing ones, then we would be able to make some changes.”The proposals came ahead of the BBC’s 2016 charter renewal and are borne out of a need to make a “cumulative saving of close to 20% over five years” – the equivalent of an annual saving of around 3.5% of the BBC’s cost base.The BBC described a “tough financial challenge” in the coming years and said that before the new charter period begins it must find at least £150m to mitigate falling TV penetration. Over the following five years it estimates it will have to absorb inflation at 2% a year—the equivalent of £400m a year – and also invest an additional £150 million on its proposed new services.“This means a total saving of £700m a year by 2021/22,” said the BBC. “We believe that we can deliver this within the budget agreement, although it will require many tough choices. We will inevitably have to either close or reduce some services.”Elsewhere, the BBC proposed expansions to the World Service –ones that would not be funded “within the confines of the budget agreement with the BBC”, but after further discussions with the government.These include a new digital service in Russia on platforms like YouTube and Rutube.ru to along with TV bulletins for neighbouring states. “We would also start a feasibility study for a satellite TV channel for Russia,” said the BBC.
Endeavor, the parent brand of companies including WME, IMG and UFC, has agreed to buy over-the-top video technology company NeuLion in a deal valued at roughly US$250 million (€200 million).Endeavor has agreed to acquire each share of outstanding common stock of NeuLion for USD $0.84, in an all-cash deal that will establish NeuLion as a privately held subsidiary of Endeavor.“Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetising content,” said Ariel Emanuel, CEO, Endeavor.“NeuLion provides an ideal combination of technology and client services and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”NeuLion president and CEO, Roy Reichbach, said: “We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients.”The deal was unanimously approved by NeuLion’s board of directors and has the written consent of holders of a majority of NeuLion’s outstanding common stock. It is expected to close in the second quarter of 2018, subject to regulatory approvals and other closing conditions.NeuLion specialises in digital video broadcasting, distribution and monetisation of live and on-demand sports and entertainment content to any connected device.Its clients include the NFL, NBA, Eleven Sports, Univision and UFC – the mixed martial arts organisation that was acquired by Endeavor in 2016.Endeavor, which was rebranded from WME | IMG last year, is a global sports, entertainment and fashion company that operates in more than 30 countries.The Endeavor network specialises in talent representation and management; brand marketing, sponsorship and licensing; media sales and distribution; event operation and management; and sports training and league development.While Endeavor did not expand on the strategy behind the NeuLion deal, last year Disney made a similar video technology play when it agreed to pay US$1.58 billion (€1.34 billion) to up its stake in video streaming technology firm BAMTech to 75%.In that instance, Disney announced plans to use BamTech’s technology to launch an ESPN-branded multi-sport video streaming service in early 2018, followed by a new Disney-branded direct-to-consumer streaming service in 2019.
And as many commentators have already said in today’s column, the world’s financial goose is pretty much cooked.As I mentioned in ‘The Wrap’ in Friday’s column, the initial news out of Brussels early on Friday morning their time, caused a waterfall decline in the dollar…along with a bit of a melt-up in gold and silver prices…and as lunchtime approached in London, gold was up about eighteen bucks.Then just before 12:00 o’clock noon, another rally began. This lasted until about 12:30 p.m. BST…and then sold off a bit going into the New York open fifty minutes later.Once Comex trading began, away went the price to the upside…but ran into a not-for-profit seller at the $1,600 spot price level at precisely 9:00 a.m. Eastern…and from there it traded sideways until shortly before 1:00 p.m. Eastern time. Then gold rallied anew…and made it to its high tick of the day [$1,608.60 spot] about five minutes before the Comex close.From there it was sold off gently…and the price was carefully closed below the $1,600 price market at $1,599.10…up $47.10 on the day. Without doubt, left to its own devices, the gold price would have closed up significantly more than that. Not surprisingly, net volume was very high at around 172,000 contracts.Here’s the New York Gold [Bid] chart for yesterday. I just wanted you to see the precise 9:00 a.m. intervention in the gold price with your own eyes. Nothing free-market about that.Silver rallied on the news out of Brussels as well…and by 11:45 a.m. BST, silver was up about fifty cents. Then silver blasted higher at what might have been an early London silver fix.Silver, like gold, also got sold off a hair at 12:30 p.m. in London, but that only lasted thirty minutes…and away it went to the upside again…and the rally accelerated at the Comex open. Within fifteen minutes silver had gained about 80 cents in what had obviously become a ‘no ask’ market. The silver price was going vertical. But the moment that it broke through the $28 spot price level, a not-for-profit seller showed up…and that, as they say, was that. It took ‘da boyz’ just over an hour to beat the silver price back to the Comex opening price. The high tick was $28.05 spot.The silver price wasn’t even allowed a sniff of that price level again, although it made every attempt to do so as, like gold, it rallied strongly into the Comex close. Then it got sold down over a percent going into the close of electronic trading Silver finished the Friday trading day at $27.49 spot, up $1.17. Net volume was pretty heavy at around 53,000 contracts.The dollar index was quite a sight yesterday. To be sure, some of the rallies in the precious metals corresponded roughly to what was going on in the currency markets, but it certainly doesn’t explain the big rallies in gold and silver that began at 11:45 a.m. in London…6:45 a.m. Eastern time…as the dollar was trading sideways at that point. The dollar index closed down 107 basis points at 81.63…but was down about 120 basis points at its New York low.Here’s the 3-day dollar index that shows the entire move on Friday.The gold stocks gapped up about four percent at the open…but then [mysteriously?] got sold off until just before noon in New York before rallying once again to a secondary peak which came about fifteen minutes before the gold price rally ended at the Comex close. From there the stocks more or less traded sideways into the close. The HUI finished up 3.19%. Considering the size of the price move in gold, I was expecting better than this.I spoke with John Embry yesterday…and he was expecting better as well, as one junior gold producer that we both follow, actually finished unchanged on the day!The silver stocks did better, but even then, there were some that didn’t do particularly well. Nick Laird’s Silver Sentiment Index closed up only 3.55%.The CME’s Daily Delivery Report showed that 15 gold and 235 silver contracts were posted for delivery on Tuesday. In silver, the only short/issuer was Jefferies, with all 235 contracts…and the two biggest long/stoppers were JPMorgan with 159…and the Bank of Nova Scotia with 72. The link to the Issuers and Stoppers Report is here.There were reductions in both GLD and SLV yesterday…as authorized participants withdrew 67,924 troy ounces of gold and 1,745,755 ounces of silver.The U.S. Mint had no sales report again on Friday, so they finished the month with sales of 54,500 ounces of gold eagles…10,000 one-ounce 24K gold buffaloes…and 2,593,000 silver eagles. Despite the lousy price action in the month just past, June gold and silver eagle sales were the third highest of the year.My coin guy had his best sales day in June yesterday, as these higher prices brought out the procrastinators in droves.On Thursday, the Comex-approved depositories reported receiving 609,909 troy ounces of silver…and shipped 473,360 troy ounces out the door. The link to that action is here.Well, the Commitment of Traders Report in silver was a sight to see. The Commercial net short position declined by 4,943 contracts…and is now down to 12,011 contracts, or 60.0 million ounces. According to reader E.F…this is the smallest Commercial net short position since September 10, 2001…almost eleven years ago! We also have a 9-year low in the Non-Commercial net long position…and almost a 5-year high in the raptor [small Commercial traders other than the ‘big 8’] net long position.All that is just dandy, but here’s the ugly news. The four largest Commercial traders are short 151.4 million ounces of silver…and the ‘5 through 8’ largest traders are short an additional 44.8 million ounces. On a net basis the four largest traders are short 30.7% of the entire Comex futures market in silver, once all the Non-Commercial market-neutral spread trades are subtracted out. And once you remove the spread trades that only show up in the Disaggregated COT report, these four traders are short much more of the Comex silver market than that. Most of that is held by JPMorgan.In gold, the Commercial net short position declined by 19,531 contracts…and now stands at 144,160 contracts, or 14.4 million ounces. The four largest Commercial traders are short 10.0 million ounces…and the ‘5 through 8’ traders are short an additional 4.9 million ounces. On a net basis the four largest Commercial short holders in gold are short 26.1% of the entire Comex gold market.In gold, the eight largest traders are short 103.5% of the Commercial net short position. But in silver, the eight largest traders are short 327% of the Commercial net short position. Now that’s concentration!Here’s Nick Laird’s Total PMs Pool chart for the third time this week.(Click on image to enlarge)I have quite a few stories for your reading pleasure this weekend…and the final edit is up to you.To consider the [Supreme Court] as the ultimate arbiters of all constitutional questions is a very dangerous doctrine, placing us under the despotism of an oligarchy. Our judges are as honest as other men…and not more so, with the same passions for party, power, and privilege. Their power is extremely dangerous, as they are in office for life and not responsible, as the other functionaries are, to elective control. – Thomas Jefferson.Here’s an American composer whose music you hardly ever hear anymore…except for this one piece during the Christmas holidays. When I was a little boy back in the early to mid 1950s, I grew up on a steady diet of his music…and his most famous composition is linked here. I remember it all too well. When I played it the other day, I’m sure that was the first time I’d heard it in at least fifty years. Roy Stephens brought this composer to my attention once again, as I had pretty much forgotten about him myself. Very sad.Well, it certainly was an interesting trading day yesterday…and not just in the precious metals, as it was across the board in just about everything. What a way to end the month…and the second quarter. I’m sure that there was some short covering involved as well…especially in West Texas Intermediate and copper. Although all four precious metals joined the party as well, it was obvious from the price action, at least to me, that gold and silver in particular were on a very short leash.With volumes in gold and silver being what they were, I’m guessing that JPMorgan et al were the short sellers of last resort again yesterday, particularly in early New York trading…although it’s entirely possible that the small commercial traders, Ted Butler’s raptors, were selling long positions and taking profits as well. This won’t be known with any certainty until next Friday’s Commitment of Traders report…and anything can happen between now and the Tuesday cut-off to mask what happened yesterday.And as many commentators have already said in today’s column, the world’s financial goose is pretty much cooked…and sooner or later the banks and the governments will have to sit down and dine at the table of financial consequences. It won’t be pretty…and I can’t think of any place I’d rather have my money invested than in gold and silver bullion…and their associated equities.It could be a long, hot summer…and I close this column by wishing all my fellow Canadians a happy Canada Day.See you on Tuesday. Tosca Mining Corporation’s goal is to acquire advanced stage projects that can be placed into production quickly. The company’s primary asset is the Red Hills Molybdenum/Copper project located in Presidio County, Texas. A program to confirm, and expand the considerable size and potential of the project and evaluate various economic scenarios was completed in 2011. Tosca recently received results from the 13 remaining holes from its phase two, 16,000 M (4,873 m) diamond drill program. Per Tosca’s Chairman, Dr. Sadek El-Alfy, “the drill program has successfully verified historic drill results of the shallow Copper-Molybdenum cap and confirmed the presence of a deeper, well mineralized Molybdenum Porphyry deposit.” The results of 21 holes drilled through the copper/moly cap in Tosca’s 2011 drill program give a weighted average grade of 0.39 % Cu over a core length of 113 feet (34.5 m). Since the copper cap is subhorizontal, the average core length can be interpreted as being approximately equivalent to true width. The copper/moly cap is crescent shaped, approximately 4,000 feet (1220 metres) long and 400 feet (122 m) to 1000 feet (305 m) wide.The 2011 program encountered numerous thick Molybdenum mineralized intervals including Hole TMC-25 wich intersected 1,189 feet (362.4 m) averaging 0.089 per cent Mo including 830 feet (253 m) of 0.1 per cent Mo from 359 feet (109.8 m) to the bottom of the hole. Hole TMC-29 cut 989 feet (301.4 m) averaging 0.09 per cent Mo including 139 feet (42.4 m) of 0.16 per cent Mo. The molybdenum grades are similar and in some cases higher than those of projects currently considered of potential economic interest.”Aggressive plans are in place for 2012 to conduct metallurgical tests, produce an updated resource estimate and Pre Economic Assesment. Tosca is operated by an experienced mine development team, operates in Texas, a mine-friendly jurisdiction and its property iseasily accessible with infrastructure in place to advance operations. Please visit our website to learn more about the company ad request information. Sponsor Advertisement
Smuggling has been one of the most common economic activities of all time, yet it is all but absent from the historical record. Smuggling has fed the poor and provided a half-decent living to the workers of the world when they faced no other choice but grinding poverty. It was the one way to get affordable goods. Smuggling was the one and only ‘discount store’ at nearly every place and in every period of history. It made life bearable. One of the very few historians to acknowledge smuggling writes this: “Smugglers and their customers probably outnumber legal traders in many societies around the world; this is nothing new, they always have.” Most of the products that have been smuggled were not the usual fear-inducing things like drugs, weapons and slaves. In most cases, the forbidden commerce involved salt, wool, fabric, tea and brandy. Cooperation: Humanity’s Norm Humans cooperate. This has been true as far back as we can see and it remains true. Left to their own devices, most people tend to get along. One of the great proofs of this – and one that I’ve never seen presented – is the fact of ancient trade. Like smuggling, long-distance trade is also mostly absent from the history books. Some references do exist, of course, but grossly out of proportion to trade’s importance. Humans always trade – at all periods of history and with every reachable group. People trade without ceasing, reaching out to distant peoples who look different, speak differently, live differently and worship different deities. And they have done this since long before the dawn of history. Cooperative trading began thousands of years before there were states, treaties, or any other such institutions to “protect property rights.” For as long as humans were humans, they gathered up valuable goods, figured out how to transport them, and took off to find far-off strangers to trade with. On the other end, strangers were welcomed. They were not routinely robbed (though that did sometimes occur). The people on the far end took their goods, asked about other goods that could be obtained, and made deals to exchange their surplus goods in return. Soon enough, young men were making the trek in reverse. Trade flourished and life on both ends improved. This is ubiquitous in the archaeological record. These traders are the real heroes of history. Their lives and work contributed to human happiness far more than that of any king or prince. No one told the traders that they should go and seek others and no one authorized them; they simply went and traded because it was beneficial and natural to do so. The Forbidden History of Smuggling: The Obsidian Traders Let me establish this point with the case of obsidian, a naturally-occurring volcanic glass. Here is a photo of obsidian: When broken, obsidian leaves a very sharp edge; so sharp, in fact, that obsidian is still used for surgical scalpels. This characteristic made it highly useful for knives, scrapers and arrowheads. The great thing about obsidian, from an archaeological standpoint, is that its source can be determined by its chemical makeup. By sampling the hardened lava from ancient volcanoes, the point of origin for obsidian can be clearly determined. So, we know where it comes from, and, of course, we know where we find it. Obsidian tools can also be very accurately dated by a hydration process. That is, by measuring the absorption of water into its cut surfaces. This can be done with a simple light microscope, and the process has been refined with multiple experiments. So, we can tell where obsidian came from, where it ended up, and how long ago it was cut or broken for use as a tool. In combination, these things allow us to map and date ancient trade routes. The resulting maps of ancient trade are so surprising that they still have not made their way into the common mind. For example, the map below shows the near-East obsidian trade routes of approximately 8000 BC, and there are others going back to 14,000 BC. As you look at this map, consider this: This trade was conducted five or six thousand years before the Great Pyramid was built. There was no Egypt, no Sumer, no Babylon or any of the other famous “first civilizations.” Egypt and the rest are closer in time to us than to these obsidian traders. And, of course, these maps show only the ancient obsidian tools that have been found so far. There remains much more to be discovered. This obsidian trade – which covered modern-day Cyprus, Turkey, Armenia, Israel, Lebanon, Syria, Iraq and Iran, an arc of approximately two thousand miles – was conducted by individuals who simply loaded up, went out and found ways to cooperate with strange and distant peoples. If you refer back to Freeman’s Perspective Issue #6, you’ll find a detailed report on Ötzi the Iceman, an experienced trader who lived in the Alps in about 3,300 BC. He also came before Sumer, Egypt, and the rest. Another example: Even though trade was looked down upon by the agricultural Romans, the trade in and out of Rome was immense. As Professor Lionel Casson reports: The Roman man in the street ate bread baked with wheat grown in North Africa or Egypt, and fish that had been caught and dried near Gibraltar. He cooked with North African oil in pots and pans of copper mined in Spain, ate off dishes fired in French kilns, drank wine from Spain or France… The Roman of wealth dressed in garments of wool from Miletus or linen from Egypt; his wife wore silks from China, adorned herself with diamonds and pearls from India, and made up with cosmetics from South Arabia… He lived in a house whose walls were covered with colored marble veneer quarried in Asia Minor; his furniture was of Indian ebony or teak inlaid with African ivory… Everywhere we look in history – if we are capable of gaining an unobstructed view – we find traders improving human lives: motivated by their own desires and cooperating with strange people, far from home, and with no powerful organization threatening to punish those who might mistreat them. Again, these are the true heroes of history. Paul Rosenberg FreemansPerspective.com Editor’s Note: This article – The Forbidden History of Smuggling – is an excerpt from our flagship newsletter – Freeman’s Perspective – Issue #20: The Forbidden History of Smuggling. If you liked what you read, consider taking a risk-free test drive. Not only will you gain immediate access to the rest of this issue, but you’ll also be able to enjoy the entire archive – more than 500 pages of research on topics of importance and inspiration to those looking for freedom in an unfree world. Plus valuable bonus reports and all new issues as well. Click here to learn more.
In the mining business, it is said that grade is king. A high-grade project attracts attention and money. High-grade drill intercepts can send an exploration company’s stock price higher by an order of magnitude. As a project moves to the development stage, the higher the grade, the more robust the projected economics of a project. And for a mine in production, the higher the grade, the more technical sins and price fluctuations it can survive. It is also said that the “low-hanging fruit” of high-grade deposits has all been picked, forcing miners to put lower-grade material into production. You could call it Peak Gold—and argue that the peak is already behind us. Let’s test that claim and give it some context. One of the ways to look at grades is to compare today’s highest-grade gold mines to those from the past. We pulled grade data from the world’s ten highest-grade gold mines for the following chart. As of last year, grades at the richest mines have fallen an average of 20% since 1998. However, except for 2003, when the numbers were influenced by the Natividad gold/silver project (average grade 317.6 g/t Au) and Jerritt Canyon (245.2 g/t Au), the fourteen-year trend is relatively stable and not so steeply declining. The spike in 2003 looks more like an outlier than Peak Gold. However, these results don’t provide much insight into the resource sector as a whole, one reason being that the highest-grade mines have vastly different production profiles. For example, Natividad—owned by Compañía Minera Natividad y Anexas—produced over 1 million ounces in 2003 from ore grading over 300 g/t gold, while the San Pablo mine owned by DynaResource de Mexico produced only 5,000 ounces of gold from 25 g/t Au ore in the same year. This made San Pablo one of the world’s ten highest-grade operations in 2003, but its impact on global gold supply was minimal. In short, the group is too diverse to draw any solid conclusions. We then turned to the world’s top 10 largest operations, a more representative operation, and tallied their grades since 1998. How about a project that’s high grade and big? We recommended a new producer that has such an asset, and it hasn’t been this cheap since its IPO. Find out who it is in the August issue of Casey International Speculator. Start your risk-free trial with 100% money-back guarantee here. The picture here is more telling. Since 1998, gold grades of the world’s top ten operations have fallen from 4.6 g/t gold in 1998 to 1.1 g/t gold in 2012. This does indeed look like Peak Gold, in terms of the easier-to-find, higher-grade production having already peaked, but it’s not as concerning as you might think. As gold prices increased from $302 per ounce at the end of 1998 to the latest price of $1,377, both low-grade areas of existing operations and new projects whose grades were previously unprofitable became potential winners. Expanding existing operations into lower-grade zones near an existing operation is the cheapest way to increase revenue in a rising gold price environment. So many companies did just that. Indeed, the largest gold operations—the type we included in the above chart—would be the first ones to drop their gold grades when prices are higher, simply due to the fact that what they lose in grade they can make up in tonnage run through existing processing facilities. Larger size allows lower-grade material to be profitable because of economies of scale. New technologies have helped to make lower-grade deposits economic as well. So, at least until 2011, the conventional wisdom of “grade is king” was being replaced by “size is king.” However, production costs have been increasing as well—and have continued increasing even as metals prices have retreated in recent years. Rising operating costs and capital misallocations (growth for growth’s sake, for example) are at least partly to blame for miners’ underperformance this year. Suddenly, grade seems to be recovering its crown. It remains to be seen whether more high-grade discoveries can actually be made, or whether Peak Gold is actually behind us. The Takeaway Truth is, there is no king. Grade and size, although among the most important variables in the mining business, tell only part of the story. Neither higher grades nor monster size prove profitability by themselves—the margin they generate at a given point in time is what matters most. And then what the company does with its income matters, too. Now that the industry has moved on from a period of reckless expansion, we expect investors to become more demanding of the economic characteristics of new projects coming online. Existing mines that processed low-grade ore in a rising gold price environment are now judged by the flexibility they have to cut costs, increase margins, and persevere through gold price fluctuations. It’s true that high enough grade can trump all other factors in a mining project, but it’s the task of a company’s management to navigate the changing environment, control operating costs, and oversee the company’s growth strategy so that it creates shareholder value. The resource sector has had a sober awakening, and now we see many companies changing their priorities from expansion to profitability, which depends on many parameters in addition to grade. This is a good thing. As for Peak Gold, if that does indeed turn out to be behind us, the big, bulk-tonnage low-grade deposits that are falling out of favor today will become prime assets in the future. It’ll either be that or go without. Times may be tough, but the story of the current gold bull cycle isn’t done being written. The better companies will survive the downturn and thrive in the next chapter. Identifying these is the ongoing focus of our work.